Point72 Hong Kong Ltd Acquires 5,522 Shares of Chord Energy Co. (NASDAQ:CHRD)

Point72 Hong Kong Ltd lifted its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 36.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,582 shares of the company's stock after purchasing an additional 5,522 shares during the period. Point72 Hong Kong Ltd's holdings in Chord Energy were worth $2,406,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CHRD. Delta Capital Management LLC grew its stake in Chord Energy by 4.3% during the 4th quarter. Delta Capital Management LLC now owns 2,200 shares of the company's stock valued at $257,000 after acquiring an additional 90 shares in the last quarter. Gables Capital Management Inc. raised its holdings in shares of Chord Energy by 6.9% in the 4th quarter. Gables Capital Management Inc. now owns 1,550 shares of the company's stock valued at $181,000 after purchasing an additional 100 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Chord Energy by 2.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company's stock valued at $434,000 after purchasing an additional 106 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Chord Energy by 1.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company's stock valued at $718,000 after buying an additional 110 shares during the last quarter. Finally, MGO One Seven LLC grew its position in shares of Chord Energy by 6.7% in the 4th quarter. MGO One Seven LLC now owns 1,775 shares of the company's stock valued at $208,000 after buying an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CHRD shares. Citigroup reduced their target price on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Piper Sandler lowered their price target on shares of Chord Energy from $184.00 to $183.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company lowered their target price on shares of Chord Energy from $166.00 to $158.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Royal Bank of Canada decreased their price objective on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Finally, Williams Trading set a $155.00 target price on shares of Chord Energy in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $153.92.

Chord Energy Price Performance

Shares of NASDAQ:CHRD traded down $1.02 during trading hours on Wednesday, hitting $92.31. 262,454 shares of the company's stock traded hands, compared to its average volume of 980,196. Chord Energy Co. has a 52 week low of $79.83 and a 52 week high of $188.02. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The company's fifty day simple moving average is $97.67 and its two-hundred day simple moving average is $111.15. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 4.75, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.60 by $0.44. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the business earned $5.10 earnings per share. The firm's revenue was up 12.0% compared to the same quarter last year. As a group, equities analysts anticipate that Chord Energy Co. will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.63%. The ex-dividend date is Wednesday, May 21st. Chord Energy's dividend payout ratio (DPR) is 34.78%.

Insider Transactions at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total value of $290,863.10. Following the completion of the sale, the executive vice president now directly owns 21,277 shares of the company's stock, valued at $2,002,165.70. This represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is owned by insiders.

Chord Energy Profile

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.